Billionaire Daniel Sundheim’s Portfolio: 5 New Stock Picks

4. Texas Roadhouse, Inc. (NASDAQ:TXRH)

D1 Capital Partners’ Stake Value: $252,436,000

Percentage of D1 Capital Partners’ 13F Portfolio: 1.41%

Number of Hedge Fund Holders: 36

Texas Roadhouse, Inc. (NASDAQ:TXRH), an American chain of steakhouses, is one of the newest stock picks of billionaire Daniel Sundheim as of the third quarter. Sundheim’s D1 Capital Partners bought 2.76 million Texas Roadhouse, Inc. (NASDAQ:TXRH) shares, valued at $252.4 million, accounting for 1.41% of the firm’s total investments. 

Barclays analyst Jeffrey Bernstein raised the price target on Texas Roadhouse, Inc. (NASDAQ:TXRH) to $92 from $90 and kept an Equal Weight rating on the shares on December 15. Restaurants are expected to experience an upside in 2022 since pandemic concerns are easing with no lasting impact on sales, labor supply is improving, and inflation is becoming less pressing.

Melvin Capital Management is the biggest Texas Roadhouse, Inc. (NASDAQ:TXRH) stakeholder as of Q3 2021, with an approximately $370 million position in the company. Overall, 36 hedge funds in the third quarter database of Insider Monkey were bullish on Texas Roadhouse, Inc. (NASDAQ:TXRH), with total stakes amounting to $993.4 million.